STI drifts sideways after 4-day climb

HAVING bounced a total of 115 points or 3.6 per cent over four trading sessions since Tuesday last week, the Straits Times Index (STI) traded sideways for most of the session on Tuesday this week before ending with a net gain of 1.55 points at 3,332.51.

Included in the four-day rise was a 51-point rise on Monday ahead of Wall Street's record-breaking Monday session during which the Dow Jones Industrial Average and the S&P 500 closed at all-time highs.

Turnover here on Tuesday was a weak 993 million units worth S$778 million - not surprising given that the holiday season is around the corner but also given that liquidity throughout the year has been low. Excluding warrants, there were 1…